Wawa (GL)

212 Blackwood-Barnsboro Road, Sewell, NJ 08080

$6,360,000

Cap Rate 5.00%

Views: 183 DOM: 313 Updated: 08.22.24 Posted: 11.08.23 Status: Active

Summary

Price $6,360,000	Built/Renov 2023	Tenant Wawa (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,585	Lease Start 12-01-2023	#Units 950
Price/SF $1,138.76	Expiration 12-01-2043	Tenant Type Convenience/Gas
NOI $318,000	R. Term 19.2	Ownership Ground Lease
Rent/SF $56.94	Increases 10.0%/5/yrs	Pop 5Mi 181,040
Lot/AC 2.61	Options 6/5yrs/10%	AHHI 5Mi $122,659

Lease Highlights

Brand-new 2023 construction
Wawa recently signed a new 20-year ground lease with 6 (5-year) options to extend
The lease features 10% rental increases every 5 years starting in lease year 6 and at the beginning of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is situated at the hard corner, signalized intersection of State Highway 47 and Blackwood-Barnsboro Road with additional access from Egg Harbor Road seeing a combined 54,900 vehicles per day. The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers. The property consists of a 5,585 SF convenience store, a...

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Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Sewell, New Jersey Zip Code 08080 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa (GL)
Guarantor:Corporate
Company:Wawa, Inc.
# Units:950
Stock:Private

About Tenant

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, V22. Wawa, a...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,699	51,387	181,103
2023 Total Population :	4,758	51,620	182,208
2023 Employed Civilian Pop :	2,433	27,135	96,884
2023 Total Businesses :	185	1,701	5,367
2023 Average Household Income :	$ 170,396	$ 136,164	$ 122,349
2023 Total Consumer Spending :	$ 243 M	$ 2202 M	$ 7449 M
2023 Median Age :	40	42	42
2023 Total Households :	1,665	19,100	71,517
2023 Pop Age 25+: Bachelor's Degree :	1,075	9,835	32,856
2023 Average Home Value :	$ 331,986	$ 340,702	$ 311,072

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Blackwood Barnsboro Road	Egg Harbor Rd	2017	5,060	0.11 mi
Delsea Drive		2018	15,585	0.18 mi
NJ 41	Delsea Dr	2020	10,567	0.19 mi
Hurffville Rd	Blue Bell Ln	2011	12,807	0.20 mi
Delsea Dr	Hurffville Rd	2005	15,585	0.20 mi
Egg Harbor Rd	Blackwood Barnsboro Rd	2017	14,652	0.22 mi
Blackwood Barnsboro Rd	Primrose Dr	2012	5,664	0.30 mi
Delsea Dr	Blackwood Barnsboro Rd	2010	13,483	0.33 mi
Blackwood Barnsboro Road	International Ave	2018	5,227	0.36 mi
Delsea Dr	Hurffville Rd	2005	13,578	0.36 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

174 Listings
15569 Views
40 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

250 Listings
20779 Views
83 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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